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Internet Business Purchase Funding

Hello- I am looking to purchase an internet business and looking for a loan
to do so... The business is subscription based and has a 5 year track
record... I am looking for 75k in funding... I have never owned a business
before, so any help is very appreciated.... Thank you!

BusinessPlanMentor | Window Shopper |
4/8/2014 - 12:08 pm

$75,000 for an Internet based business is pretty steep. And with no previous
experience you will likely not qualify for a bank loan. In addition to
applicable experience, you will be required to have an excellent credit score
and strong collateral. Plus you will be required to bring about 20% cash as a
down payment.

$75,000 is too high also for peer to peer lenders. You might need to walk
away from this one if you can't negotiate a lower price.

HorizonBusinessFunding | Window Shopper |
4/7/2014 - 3:41 pm

Definitely do your research before you agree to buy. The nature of the
internet means that something like a single website can lose a lot of value
very quickly should something change, such as the SEO on the site. You might
want to get a qualified third party to evaluate the website before you make
plans to buy it.

Kathlyn Ross | Window Shopper |
4/5/2014 - 11:31 am

BizResearcher | Window Shopper |
4/4/2014 - 12:04 am

It is difficult to obtain a loan in the best of circumstances, so getting one
for an internet business is a long shot, but you won't know until you try. A
lender will expect to see a well researched and written business plan that
contains financial projections, so that should be your first step. You may
also want to visit with a counselor at a small business development center or
a SCORE office. Their services are free and the counselor can recommend how
to proceed.